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Information Disclosure and IR

Policy on Information Disclosure

In accordance with the Toshiba Group Standards of Conduct, the basic policy of Toshiba Investor Relations activities is to provide proper and timely disclosure of corporate information, such as management policies and financial data, in order to allow investors to obtain a correct understanding of Toshiba.
Toshiba Group discloses information in a timely and appropriate manner in accordance with pertinent laws and regulations. We also disclose important corporate information that is likely to influence investor decisions even when such disclosure is not required by law or regulation.
Toshiba Group is striving to promote deeper understanding among investors showing high interest in its individual business chiefly by hosting meetings to provide explanations of such businesses while paying attention to the timing of disclosure and by participating in seminars organized by securities firms.

Toshiba Group Standards of Conduct 14. Corporate Communications

Information Disclosure Policy

Basic Policy on Profit Distribution

Toshiba, while giving full consideration to such factors as the strategic investments necessary to secure medium- to long-term growth, seeks to achieve continuous increases in its actual dividend payments, in line with a payout ratio in the region of 30 percent, on a consolidated basis.

Basic Policy on Profit Distribution

Information Disclosure Framework

Regulations/Standards and procedures for timely disclosure were established on October 1, 2003, which defined responsibilities for related work.

Internal system for information disclosure

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Information Disclosure Checks and Audits

Toshiba clarifies the delegation of authority, enhances internal control, and ensures the appropriateness of information content by assigning multiple divisions to prepare and verify management policies, financial data, and other corporate information from their individual perspectives. Toshiba does its utmost to ensure reliable, timely disclosure based on double checking by the division concerned and Legal Affairs Division.

Evaluation of the IR Website by External Parties

Toshiba's constant upgrades of its IR website to ensure fair disclosure have earned recognition. Awards won by the website in FY2013 are indicated below, and the site also gained high evaluations from several agencies that survey Socially Responsible Investment (SRI).

Evaluation of the IR Website by External Parties (FY2013)
Organization Evaluation Period
Gomez IR Site Ranking by Morning Star Japan k. k.
(surveyed: 3,583 Japanese companies)
Gomez IR Site Ranking by Morning Star Japan k. k.
(Japanese)
Excellent Company: Gold Medal June 2014
2013 Internet IR Best Company Award by Daiwa Investor Relations Co., Ltd.
(surveyed: 3,602 companies)
2013 Internet IR Best Company Award by Daiwa Investor Relations Co., Ltd.
(Japanese)
Grand Prix (Best Company Award 2013 for nine consecutive years) November 2013
Nikko Investor Relations Co. Ltd.
FY2013 Ranking of Listed Companies' Websites
(surveyed: 3,556 companies)
2013 Ranking Survey of Excellent Websites by Nikko Investor Relations Co., Ltd.
(Japanese)
2nd place overall November 2013
Evaluation by SRI (FY2013)
Organization Evaluation Period
Member of Dow Jones Sustainability Index (DJSI)
Member of Dow Jones Sustainability Index (DJSI)
Selected for 14 consecutive years since 2000 September 2013
Euronext Vigeo World 120 index
Euronext  Vigeo World 120 index
Selected as a member of the 120 most advanced companies at the global level (17 Japanese companies among them) June 2014
oekom research AG
oekom  research AG
Toshiba ranked Prime among the world’s 19 major IT manufacturers June 2011
IntegreX (Japan)
Survey of Corporate Integrity and Transparency
Reference website: IntegreX
5th place overall (among 498 listed companies)
1st place in industry (among 65 companies)
March 2014
Japan Corporate Governance Research Institute, Inc.
Twelfth (FY2013) Corporate Governance Index (JCGIndex) Survey
Reference: Japan Corporate Governance Research Institute’s website
7th place March 2014
CSR survey conducted by Toyo Keizai, Inc. among approx. 1,000 companies 10th place in FY2013 overall (1st place in terms of CSR field) April 2014
2013 Golden Bee CSR Reports Honor Roll Award (China) Excellent CSR report in foreign capital category April 2014

Evaluation by External Parties

Communication with Shareholders and Investors

Communication with Individual Shareholders

Shareholder Newsletter
Shareholder Newsletter (Japanese)

Publication of Shareholder Newsletters

Toshiba Group strives to communicate with individual shareholders through our shareholder newsletters and also gave lectures on our solar power business at the seminar hosted by brokerage house / IR support companies.

Enhancement of IR Website

We posted a video message from the President on our corporate investor relations website. Also, among of our efforts to improve the English language website, we started an English e-mail distribution service to provide registered users with e-mail notification about financial reporting.

IR website

Questionnaire survey on the IR website

General Meeting of Shareholders

We held the General Meeting of Shareholders at Tokyo on June 25, 2013. The meeting was attended by 5,740 shareholders. We will continue to enhance our communication with our shareholders through such meetings.
At the site, there were exhibition corners set up to easily explain to the shareholders about various Toshiba products such as electronic devices, social infrastructure systems, digital products, home appliances and medical equipment. Also, booklets of Toshiba Group Annual Report 2013 were distributed at the meeting.

Communication with Institutional Investors and Securities Analysts

Throughout the year, Toshiba works to promote communication with institutional investors and securities analysts by attending seminars hosted by securities firms, visiting investors in Japan and overseas and hosting interviews about Toshiba. In FY2013, in addition to annual financial and management policy briefings, we also held meetings to explain our healthcare business strategies and gave a tour of Toshiba’s Yokkaichi Factory in response to investors’ requests. Working in collaboration with securities firms, Toshiba’s executive officers in charge explained our semiconductor and storage business strategies for investors in Japan and overseas, creating opportunities to promote their understanding of Toshiba Group’s high-priority businesses.
Since FY2013, we have also visited overseas institutional investors to explain our ESG (Environment, Society and Governance) factors used to measure investments in companies and businesses, and we have heard a variety of opinions from such investors, including their thoughts on challenges and expectations.

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